VOLEX
Purchase of Turkish power cord producer expected to expand European activities
 Volex offers integrated manufacturing services (Photo: Volex) |
UK manufacturing services group Volex (Basingstoke; www.volex.com) said it has paid up to EUR 61.8m for Turkish power cord manufacturer De-Ka Elektroteknik Sanayi ve Ticaret Anonim Şirketi (Deka, Çayırova/Kocaeli; www.de-ka.com).
Volex, whose products are used in applications for medical equipment, data networking equipment, data centres, mobile computing devices and factory automation, said it would pay an initial cash sum of EUR 37m for Deka, and EUR 9.8m in Volex shares to be paid to Deka’s sellers.
Further cash payments totalling EUR 15m are be made within two years of the completion date, subject to trading targets being hit.
Deka employs 450 staff, and Volex said the deal would expand its reach across Europe.
Volex, whose products are used in applications for medical equipment, data networking equipment, data centres, mobile computing devices and factory automation, said it would pay an initial cash sum of EUR 37m for Deka, and EUR 9.8m in Volex shares to be paid to Deka’s sellers.
Further cash payments totalling EUR 15m are be made within two years of the completion date, subject to trading targets being hit.
Deka employs 450 staff, and Volex said the deal would expand its reach across Europe.
19.11.2020 Plasteurope.com [246383-0]
Published on 19.11.2020
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